AI Vibes | A Decade of China: Witnessing surging trade and increasing innovation

By Sheng Chuyi (People's Daily Online) 17:27, December 20, 2023

The best way to understand the changes in China's development in the new era is by looking at the real data.

Since 2017, China has maintained its position as the world's largest trading nation for goods for six consecutive years. The proportion of the annual import and export scale of private enterprises has surpassed 50 percent for the first time. The annual average growth rate of goods trade with the Belt and Road Initiative (BRI) participating countries has exceeded 8 percent. Over the past decade, China's foreign trade has continually made new breakthroughs, with the total import and export value exceeding 42 trillion yuan in 2022. In the first 10 months of this year, China's total import and export value of goods trade exceeded 34 trillion yuan.

In 2020, the total value of goods and services trade exceeded that of the United States for the first time, making China the world's largest trading nation. In 2022, the scale of cross-border e-commerce imports and exports exceeded 2 trillion yuan for the first time, and the volume of digital trade reached a historic high. China's international market share of exports further increased to 14.7 percent in 2022, ranking first globally for 14 consecutive years.

In 2022, China's innovation index reached 155.7, a 5.9 percent increase from 2021, averaging a growth of 6.5 percent annually since 2015. China’s global innovation index ranking has significantly surged, making the country an increasingly important part of the global innovation landscape. China ranked 11th on the World Intellectual Property Organization's "Global Innovation Index (GII) 2022", steadily climbing for 10 years, leading among 36 middle-to-high-income economies.

(Meng Yufei, as an intern, also contributed to this video.)

(Web editor: Sheng Chuyi, Wu Chengliang)


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